Last checked at 
21 Mar 2022 07:00
London, UK, 21 March 2022
Edison issues review on Vietnam Enterprise Investments (VEIL)
Vietnam Enterprise Investments (VEIL) is the largest and longest-established Vietnamese equities closed-end fund. VEIL has materially outperformed its peers and the VN Index during the past three, five and 10 years. This included a very strong performance in 2021, when VEIL's NAV was up 47% against a 1.5% decline in the MSCI Emerging Markets Index. The trust is well positioned for longer-term investors looking for exposure to the fast-growing Vietnamese economy via a relatively large and liquid listed equity vehicle. Dragon's focused approach targets future winners within growing sectors in Vietnam.
We believe VEIL's portfolio is positioned to capture long-term growth within Vietnam and continue its strong performance through the two key investment themes. These are an emerging middle class and fast-growing GDP per capita, supported by the boost in infrastructure spending by the government, with banks, property and steel companies set to benefit. With the expected recovery in discretionary spending, the retail and technology/software services sectors are likely to outperform the indices. Together these themes comprise close to 90% of VEIL's portfolio.
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